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Comparison

Side-by-side payments and cash to close

Lowest monthly: Assumable Loan

Total monthly

Payment stack including taxes, insurance, and HOA

Cash to close

Down payment / equity bring-to

Detail
Assumable Loan
Assumable · FHA
Assumable Loan + Second
Assumable · FHA
Current Market Conventional
New · Conventional
Loan amount$398,844$398,844$449,999
Remaining term (yrs)29.129.130.0
Secondary amount$0$51,155$0
Funding fee$0$0$0
Note rate6.5%6.5%7.18%
Blended rate7.05%7.272%7.42%
1st payment$2,544.54$2,544.54$3,048.45
2nd payment$0.00$383.67$0.00
Taxes / mo$95.33$95.33$95.33
Insurance / mo$166.67$166.67$166.67
MI / mo$184.51$184.51$90.00
HOA / mo$0.00$0.00$0.00
Total monthly$2,991.05$3,374.71$3,400.45
Cash to close$101,155$50,000$50,000